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Kingfisher Airlines women staff to Vijay Mallya: "You say that you are not a defaulter. But you confidently told us during the meeting that banks won't be able to recover more than 5-10 per cent of debt amount. That speaks volumes of your malicious intentions. In the same meeting, you promised revival, payment of our salary… This clearly means that you had no intention of reviving the airline while you kept submitting misleading revival plans to banks/DGCA," the women staffers alleged in the letter. (Reuters photo)
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1. Vijay Mallya row: On Monday, the Enforcement Directorate (ED) in Mumbai lodged a money laundering case and the Debt Recovery Tribunal (DRT) in Bengaluru barred British liquor giant Diageo from paying him anything till a case against him was disposed off. The tribunal barred Diageo plc from paying Rs 5.04 billion ($75 million) as a severance package to Mallya who quit the chairmanship of its Indian company, United Spirits Ltd last month, till the pending case against the liquor baron before it is decided. "Diageo plc and United Spirits Ltd shall not disburse the amount ($75 million) to Mallya or his nominees or agents till the disposal of the bank's original application (OA). Amount as sought by the applicant banks stands attached," the tribunal order said. (Image Source: Reuters)
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2. Vijay Mallya row: A consortium of 17 state-run and private banks led by SBI filed an application on February 26, a day after Diageo signed the deal with Mallya for resigning as chairman and not competing with it in the spirits business worldwide for the next five years for $40 million this year and the balance ($35 million) over the next four years. According to the SBI counsel, Mallya's now defunct Kingfisher Airline owes the consortium a whopping Rs 10,000 crore, including compound interest over the remaining combined loans of Rs 7,800 crore borrowed between 2004-12 before it was grounded and shut down subsequently. (Image Source: Reuters)
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3. Vijay Mallya row: In another major blow for Mallya, the ED on Monday registered a money-laundering case against him. "We have filed a case against Mallya on Monday. The case is specifically based on the case registered by the CBI against him and others in (October) 2015," Assistant Director (Enforcement Directorate) A.K. Rawal said. (Image Source: Reuters)
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4. Vijay Mallya row: Mallya and the top executives of the erstwhile KFA have been booked under Sections 3 and 4 of the Prevention of Money Laundering Act (PMLA), Rawal said. The measure follows an audit of the Rs 7,200 crore loan that the bank consortium had extended to the airline but was not repaid. Kingfisher Airlines is alleged to have diverted as much as Rs 4,000 crore of that money to international tax havens like Mauritius and Cayman Islands, which is being probed by the ED and the Central Bureau of Investigation (CBI). (Image Source: Reuters)
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Vijay Mallya case: "You people on your own reach the place where you smell political opportunity, no one supported us not even a statement in our favour," the letter said while citing former employees numerous meeting with the then Government Ministers and law makers from both ruling and opposition parties to take up their issues at that time. (Reuters)
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